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18/07/2024
Mining News

Global molybdenum production and usage rises in Q3 2023

Figures released today by the International Molybdenum Association (IMOA) show that in the third quarter of 2023, global molybdenum production rose by 7% to 161.9 million pounds (mlbs) when compared to the previous quarter. This represented a 14% rise when compared to the same quarter of the previous year. Meanwhile, global usage of molybdenum rose by 2% to 159.2 mlbs when compared to the previous quarter, a rise of 1% when compared to the same quarter of the previous year.

China remained the largest producer of molybdenum at 71.8 mlbs – a rise of 9% when compared to the previous quarter but a 14% rise when compared to the same quarter of the previous year. South America remained the second largest producer of molybdenum at 41 mlbs, a 3% rise when compared to the previous quarter but a 5% rise when compared to the same quarter of the previous year. Production in North America rose by 1% to 28.6 mlbs when compared to the previous quarter, a 4% rise when compared to the same quarter of the previous year. Production in Other Regions saw the largest rise, 20%, to 20.5 mlbs when compared to the previous quarter, a 59% rise when compared to the same quarter of the previous year.

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China remained the largest user of molybdenum at 74.5 mlbs – this represented a 10% increase when compared to the previous quarter but a 9% increase when compared to the same quarter of the previous year. Europe, the second largest user of molybdenum, saw a 14% fall in usage to 28.1 mlbs when compared to the previous quarter, a 6% fall when compared to the same quarter of the previous year. Usage in Other Regions rose 10% to 23.8 mlbs when compared to the previous quarter, however this represented a 13% fall when compared to the same quarter of the previous year.

Usage in the USA fell 6% to 15.7 mlbs when compared to the previous quarter, although when compared to the same quarter of the previous year it remained static. Usage in Japan saw a 7% fall to 11.4 mlbs when compared to the previous quarter, a 12% fall when compared to the same quarter of the previous year. Usage in CIS rose 8% to 5.7 mlbs when compared to the previous quarter, a 27% rise when compared to the same quarter of the previous year.

 

Source: IMOA

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